Volkswagen AG, aims to capture 8%-10% of India’s market share in the next four to six years. To spread VW’s presence in India, the carmaker recently took a stake in Suzuki Motor Corp.
Last Saturday, VW began production of its Polo hatchback, which debuted in Europe earlier this year, in its plant in western India. Jochem Heizmann, a member of the board of Volkswagen, cited the need for a smaller car in the Indian market, one that will be slotted below the level of the Polo. To date, no decision has been made. VW and Suzuki plan to develop a new small car that would cost between $4,300 and $5,400 for the Indian market, following their recent tie-up, according to the iEconomic Times.
Read Article